NOVA NEWS EDITORIAL 02 FEBRUARY 2022
With the New Year in full swing it is likely that the property market will be continuing in a similar vein to the pre Christmas period. Increased interest rates may have borrowers a little on the back foot but money is still cheap to borrow and there is surely still a huge lack of supply of established homes, therefore prices are likely to maintain strength and see little likelihood of any market correction in the foreseeable future.
Lighter nights are with us and the Spring is always a better time for selling, more buyers around but if supply is short then that may result in a continued increase in prices. The Omicron variant will undoubtedly restrict buyers and sellers to some degree but Lockdown didn’t have a significant effect on the price of property, if anything prices increased much more than average so there is unlikely to be much difference in circumstances now. There will always be houses coming on the market as there are a multitude of reasons why vendors want or need to sell so keep your eyes peeled for that special property. I know that there are many people who have had valuations from agents who are looking to market their houses in the Spring so even if property is not being marketed in much volume now there will surely be an increase in supply at some stage over the next month or two. It won’t be long before the first Bank Holiday of the year.
Bearing these things in mind it is probably worth doing a bit of preparation of your home before marketing, gardens look drab during the winter but can soon be lifted by some winter colour, the bulbs will be out now so a tidy up and a trim of the lawn will help. Make sure your home has that essential “Kerb appeal” that agents are always referring to. A lick of paint can sometimes make the difference between someone arranging a viewing and passing by to the next property.